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City of St. Petersburg, FL |
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Municipal Credit Rating Report and Key Indicators |
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September 30, 2017 |
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Relevant Ratios used by Municipal Credit Analysts |
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| 1 |
Required Annual Pension Payment plus Annual OPEB Payment as % of Total Government Funds Expenditures |
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Required Annual Pension Payment |
19,252,275 |
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Annual OPEB Payment |
14,479,002 |
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Total |
33,731,277 |
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Total Government Funds Expenditures |
229,109,853 |
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Ratio ………………………………………………………………………………………………………………………………………………. |
14.7% |
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| 2 |
OPEB Payment as % of Total Government Funds Expenditures |
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Annual OPEB Payment |
14,479,002 |
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Total Government Funds Expenditures |
229,109,853 |
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Ratio ……………………………………………………………………………………………………………………………………………… |
6.3% |
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| 3 |
Pension Plan Active / Beneficiaries Ratio |
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Pension Plan Active Employees |
2,264 |
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Pension Plan Retirees and Beneficiaries |
2,421 |
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Ratio ……………………………………………………………………………………………………………………………………………… |
0.94 |
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| 4 |
Unfunded Pension Liability Per Capita (Pension score adjustment) |
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Unfunded Pension Liability |
90,703,232 |
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Permanent Population |
253,585 |
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Ratio |
358 |
(At or below $500 (threshold) |
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| 5 |
Unfunded Pension Liability to Income (Pension score adjustment) |
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Unfunded Pension Liability |
90,703,232 |
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Personal Income |
7,659,789,000 |
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Ratio ………………………………………………………………………………………………………………………………………………. |
1.18% |
(At or below 2% (threshold) |
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| 6 |
Net Pension Liability as % of Full Market Value |
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Net Pension Liability |
90,703,232 |
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Full Market Value (Taxable Property) |
15,906,451,780 |
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Ratio ………………………………………………………………………………………………………………………………………………. |
0.57% |
(Kroll considers under 1% to be AAA) |
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| 7 |
Fixed Costs as % of Government Expenditures |
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Fixed costs (Debt service + annual actual pension contributions + annual OPEB contributions) |
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Debt service |
- |
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Required Annual Pension Payment |
19,252,275 |
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Annual OPEB Payment |
14,479,002 |
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Total Fixed Costs |
33,731,277 |
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Government Expenditures |
229,109,853 |
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Ratio ……………………………………………………………………………………………………………………………………………… |
14.7% |
Note same result as ratio #1 (since debt service here is zero) |
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| 8 |
Dollar difference between pension ADC and actual pension contribution as % of spending |
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where "ADC" is "actuarially determined contribution" |
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Pension ADC |
19,252,275 |
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Pension Actual Employer Contribution |
19,252,275 |
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Difference, Short/(Over) |
- |
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Spending |
229,109,853 |
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Difference as a % Spending …………………………………………………………………………………………………………. |
0.0% |
Ratio is zero since St. Petersburg's contribution was equal to the ADC. |
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Return to Cover |
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